Markets

Tech stocks continue sharp slump as economic-recovery prospects stoke inflation fears

1 day ago   |   By Business Insider

Spencer Platt/Getty Images
US stocks declined on Tuesday as expectations for rising inflation dragged on tech mega-caps. Investors rotated further to value stocks and small caps from growth names as stimulus optimism fueled bets on economic recovery. Bitcoin tanked below $49,000 after trading as high as $55,053.91 Monday afternoon as investors snapped up crypto profits. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US equities broadly fell on Tuesday as positioning for strong economic growth and a pickup in inflation weighed on the tech sector. Growth favorites...
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Bitcoin briefly falls as much as 17% to under $46,000, as inflation fears rattle cryptocurrencies and tech stocks

1 day ago   |   By Business Insider

Bitcoin tumbled on Monday and slumped again on Tuesday morning.
R.Tsubin/Getty Images
The bitcoin price slumped to below $46,000 on Tuesday as the cryptocurrency sell-off continued. Other cryptocurrencies such as ether and XRP also plunged as cash fled the market. Investors have second-guessed the recent market rally, with tech stocks also tumbling. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The bitcoin price tumbled for a second straight day on Tuesday, briefly plunging below $46,000 before regaining some ground, as investors second-guessed the recent market...
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US tech rout set to continue after rising bond yields drive sharp sell-off, while bitcoin plunges again

2 days ago   |   By Business Insider

US tech stocks tumbled on Wall Street on Monday
John Minchillo/AP
US futures fell on Tuesday morning after stocks tumbled on Monday, with tech firms down again. Rising bond yields have caused investors to second-guess the recent equities rally. Bitcoin plunged again to around $48,000 after rising past $58,000 the previous week. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The drop in US technology stocks looked set to resume on Tuesday morning, with Nasdaq 100 and S&P 500 futures sliding, after rising bond yields spooked investors and triggered a sharp sell-off...
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